 of taxes just on their social security. Six to 12,000 a year. That's a lot of money, folks. In fact, have you thought about this? What if you deferred paying tax on 20,000 each year by putting into a 401 , right? Since the IRS is your partner, let's say you're still in a 30% tax bracket, which you likely will be if you've obviously saved, if you have nearly four million bucks.